County green lights TIRZ revisions

first_imgBy ABBEY KUNKLESpecial to the PRESSCameron County Commissioner Sofia Benavidez joined SPI City Council members as part of the Tax Increment Reinvestment Zone (TIRZ) Board for their meeting Monday afternoon. Benavidez gave her approval of the TIRZ interlocal agreement after the City addressed some of the County’s concerns.According to the City ordinance, the City Council moved to create the TIRZ in 2010 as a partnership with Cameron County in order to promote construction of mixed-use retail, office, entertainment, food service and hospitality facilities in areas of the City that have significant and varied development impediments and on parcels which have declining real property value. Many tracts of land on the Island have remained vacant and are in need of development or redevelopment due to a variety of inadequacies in regards to infrastructure, drainage issues and more.Over the years, funding has been a major inhibitor in terms of development. The creation of the Zone was intended to provide a long-term financing program using investments from incremental tax increases to provide the necessary funds for public improvements in these underdeveloped areas with the ultimate goal of increasing business opportunities within the district.Want the whole story? Pick up a copy of the Port Isabel-South Padre Press, or subscribe to our E-Edition by clicking here. Share RelatedCounty talks PI, Island TIRZsBy DINA ARÉVALO Port Isabel-South Padre Press [email protected] A week after meeting with Cameron County Commissioner Sofia Benavides, officials from the City of South Padre Island once again stood before the County Commissioners’ Court to deliver a presentation on the City’s Tax Increment Reinvestment Zone (TIRZ). The City was taken to…March 25, 2016In “News”Island gets update on TIRZ contributionsBy KEVIN RICH Special to the PRESS Prior to the Wednesday, Feb. 6 regular meeting of the South Padre Island City Council, the Board of Directors of the Tax Increment Reinvestment Zone (TIRZ) met to review their 2017-2018 annual financial report. Island Mayor Dennis Stahl introduced Cameron County Pct. 1 Commissioner…February 22, 2019In “News”PI Improvement District back in actionBy ABBEY KUNKLE Special to the PRESS After nearly four years since their last meeting, the Port Isabel Improvement District #1 (PID) met last week for an update regarding the status of improvements in the Modern Venice area, also known as “The Fingers.” The PID was created by action of…January 8, 2016In “News”last_img

Leave a Reply

Your email address will not be published. Required fields are marked *